The Art of Innovation

Abstract: The following chapters examine the nature of innovation, and what makes it succeed, focusing the analysis through a variety of different lenses. First, innovation is considered in terms of its relationship with competitive advantage. Several forms of innovation are explained individually, and each is connected to Porter’s Five Forces of Competition framework in order to understand how firms are able to derive a competitive advantage. In each chapters which follow, several characteristics which are necessary to innovative success are identified and considered in terms of their relationship to different forms of innovation. This analysis begins by focusing on innovation itself, before eventually shifting perspectives to understand the different environmental and organizational conditions that must be present for innovation to succeed. Ultimately, a clear framework is developed that guides firms in their quest for innovative success